Fintech companies brought the funds to be lent to the public, did MoU (memorandum of understanding) with "defunct" NBFCs for their lending licence, it said Topics Enforcement Directorate | fintech companies | NBFCs A number of fintech companies and NBFCs "backed by" Chinese funds have generated proceeds of crime worth more than Rs 940 crore by indulging in predatory lending activities and violating RBI guidelines while operating in India, the Enforcement Directorate said on Wednesday. The federal probe agency has mounted a crackdown on such companies who, it said, were "operating on the basis of instructions from Chinese, Hong Kong...